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BuzzFeed Inc. Granted Extension on Nasdaq Delisting
The company will have a further 180 days to get its stock price above $1
The culture and entertainment publisher BuzzFeed Inc. has been granted an additional 180 days to raise the price of its stock above $1,according to SEC filings.
The publicly traded media company had originally received a notice of delisting from the Nasdaq on May 31 warning the publisher that it had 180 days, ending on Nov. 27, to get its stock above the $1 threshold.
Companies have to meet a number of criteria in order to trade on the Nasdaq, one of which is that their bid price must be above a $1 minimum. BuzzFeed Inc. stock is currently trading at 30 cents.
Mark Stenberg
Mark Stenberg is Adweek's senior media reporter.
